Teachers Retirement System of The State of Kentucky Grows Position in Sweetgreen, Inc. (NYSE:SG)

Teachers Retirement System of The State of Kentucky boosted its holdings in Sweetgreen, Inc. (NYSE:SG - Free Report) by 16.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 362,630 shares of the company's stock after buying an additional 51,000 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.31% of Sweetgreen worth $11,626,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Summit Investment Advisors Inc. grew its holdings in shares of Sweetgreen by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock worth $336,000 after purchasing an additional 473 shares during the last quarter. Cypress Wealth Services LLC grew its holdings in shares of Sweetgreen by 6.1% during the fourth quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company's stock worth $270,000 after purchasing an additional 483 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Sweetgreen by 1.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company's stock worth $1,608,000 after purchasing an additional 600 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Sweetgreen by 2.1% during the fourth quarter. Arizona State Retirement System now owns 29,535 shares of the company's stock worth $947,000 after purchasing an additional 613 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of Sweetgreen by 10.8% during the fourth quarter. Xponance Inc. now owns 7,185 shares of the company's stock worth $230,000 after purchasing an additional 702 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company's stock.

Insider Activity at Sweetgreen

In related news, CEO Jonathan Neman sold 5,717 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $136,064.60. Following the transaction, the chief executive officer now directly owns 1,810,263 shares in the company, valued at approximately $43,084,259.40. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mitch Reback sold 10,926 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total value of $288,774.18. Following the transaction, the chief financial officer now owns 344,055 shares in the company, valued at $9,093,373.65. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,852 shares of company stock valued at $871,417 over the last quarter. Insiders own 21.52% of the company's stock.

Wall Street Analysts Forecast Growth

SG has been the topic of several recent research reports. Piper Sandler dropped their price target on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $45.00 target price on shares of Sweetgreen in a report on Tuesday, February 25th. The Goldman Sachs Group cut their price target on Sweetgreen from $37.00 to $32.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. TD Securities cut their price target on Sweetgreen from $45.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Citigroup cut their price target on Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Sweetgreen currently has a consensus rating of "Moderate Buy" and an average target price of $35.91.

Sweetgreen Stock Up 0.7 %

Shares of SG traded up $0.14 during trading hours on Friday, reaching $19.26. 5,286,485 shares of the company traded hands, compared to its average volume of 3,348,844. The stock has a market capitalization of $2.26 billion, a PE ratio of -24.69 and a beta of 2.28. Sweetgreen, Inc. has a fifty-two week low of $16.29 and a fifty-two week high of $45.12. The stock has a fifty day simple moving average of $22.51 and a 200 day simple moving average of $30.68.

Sweetgreen Profile

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.